Ford Korea CEO: "Price-Reduced Explorer Targets All Age Groups"

Launch of the Updated Explorer SUV
Price Reduced by Up to 10 Million KRW... Interior and Exterior Refreshed
Targeting Various Age Groups Beyond the 'Dad Car' Image

David Jeffrey, CEO of Ford Korea, is answering reporters' questions after unveiling the vehicle at 'The New Ford Explorer Launch Showcase' held on the 12th at Sebitseom, Seocho-gu, Seoul.

Ford Korea has made significant improvements to its flagship sports utility vehicle (SUV), the 'Explorer,' for the first time in five years. By enhancing both interior and exterior features and lowering the price compared to before, the company aims to move beyond the image of a "dad car" and target customers of all age groups.

On the 12th, Ford Korea held an unveiling event for the 'The New Ford Explorer' at Sebitseom in Seoul and officially launched it in the domestic market. This is a facelift model that updates the 6th generation Explorer, which was first released in 2019, after five years.

David Jeffrey, CEO of Ford Korea, explained, "The performance has improved compared to the previous model, but the price has been lowered. This is a strategic choice to reach a wider range of customers."

The Explorer, first launched in 1990, was Ford's first 4-door SUV and has maintained steady popularity through successive generations. The 1st generation gained attention by appearing in the movie 'Jurassic Park.' In Korea, sales began from the 2nd generation, where it became very popular as a "dad car."

Ford Korea plans to expand its customer base with the new Explorer. Unlike before, when only the 'Platinum' trim was available, the 'ST Line' trim has also been introduced. The ST Line trim maintains the existing solid feel while applying a younger, more stylish 'Street Package.' This is a strategic move to target single adults or families of three. The Platinum trim emphasizes a sense of weight with a black grille reminiscent of Yunsul (glimmering light on water) and traditional Korean roof tiles, and uses black on both the sides and rear. The rear Explorer lettering has also been changed from bright chrome to black.

On the 12th, the vehicle was unveiled at 'The New Ford Explorer Launch Showcase' held at Sebitseom, Seocho-gu, Seoul.

Lowering the price is another notable point. Based on the application of 5% VAT and individual consumption tax, the ST Line trim price has been reduced from 68.65 million KRW (overseas standard) to 62.9 million KRW, and the Platinum trim from 78.95 million KRW to 69 million KRW. This means the Platinum trim price has dropped by nearly 10 million KRW. CEO Jeffrey said, "This decision was made to move beyond the traditional 'dad car' image and reach a broader customer base, including younger generations."

Both trims are equipped with Ford's driving assistance system, Co-Pilot360 Assist 2.0. Features include Blind Spot Information System (BLIS), Adaptive Cruise Control, Lane Centering Assist, Lane Keeping System, and a 360-degree camera. A Trailer Tow Package capable of towing camping trailers is also included as standard.

As the Explorer accounts for more than half of Ford Korea's total sales, a strong sales strategy is expected. Pre-orders, which began on the 4th, reportedly received significant attention, especially for the ST Line trim priced at around 63 million KRW. Previously, in 2018, Explorer sales nearly reached 7,000 units annually but have since declined to 1,274 units accumulated from January to October this year. The Explorer is expected to face fierce competition in the large SUV market against the fully redesigned Hyundai Palisade launching at the end of next month and the fully redesigned Chevrolet Traverse releasing next year.

The release of electric or hybrid (PHEV) models has not yet been decided. CEO Jeffrey emphasized, "Models like the Nautilus (Lincoln), Mustang, and Bronco, which were actively introduced since the end of last year, have all received positive responses. We will continue to aggressively target the Korean market this year."

Son Seon-hee, Executive Vice President and Head of Marketing & Communications at Ford Korea, explained, "Until now, the main customer age group for the Explorer was in their mid-40s. This new Explorer is a more versatile vehicle, so we are focusing most on expanding the base and customer segments."